In a parametric design, we all have created independent copies of a component using the Copy/Paste New command sequence. Later on, in the design, you realize you would like to modify the original component and have all the edits and additions, made to the original, propagate to "all" of the independent copies. This could potentially save you a tremendous amount of time and it will also add a whole new method to designing. If this workflow interest you, take a look at this video for the process.
